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With the current macroeconomic shifts and advances in technology, the CFO role is more important than ever - but demands are also rising, with companies looking for more strategic advice and cross-functional work from CFOs.
The downturn has resulted in a shift from hyper growth to sustainable growth, leading to investors - and startups - increasingly focusing on unit economics and profitability.
First, their scope is evolving from traditional financial reporting towards actively driving a company’s strategic decisions.
Second, as finance teams become more strategic, they’re becoming increasingly reliant on technology to help them understand their business at a granular level.
“ CFOs and finance teams are increasingly sitting at the heart of an organisation, and working cross-functionally with other teams such as HR, sales, operations, legal and marketing.” The finance function has become cross-functional and strategic “Without the right tools in place, it’s almost impossible to get a full view of your business, understand what levers you can pull to make decisions and to work collaboratively with other teams.”
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